Thank you for sharing!

Your article was successfully shared with the contacts you provided.

It is undeniable that Koreatown is one of the fastest growing and most popular markets in Los Angeles, but for anyone doubting the voracity of the market, a new multifamily delivery proves the exceptional demand. Developer CityView has completed The Pearl on Wilshire, a 346-unit luxury multifamily complex with 8,300 square feet of retail space, with 75% of the property leased. The leasing velocity has exceeded the developer’s already bullish expectations for the market.

“We have had an exceptional response, and we are extremely happy with the progress. We started preleasing in May 2018 and had our first move-ins in July. At the end of November we are 75% leased,” Melissa Bartolucci Delgado, VP of asset management at CityView, tells GlobeSt.com. “On a 346-unit project, that is a substantial absorption rate and it is far ahead of what we had budgeted or had anticipated. So, we have had a very pleasant response from the community and from prospective tenants.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author


GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.